Optical communication material expert Corning has agreed to acquire Samsung Electronics' fiber optics business.
The release from Corning states "When complete, the acquisition will augment Corning’s market access and enhance its broad portfolio of optical communications products in Asia. Corning will integrate Samsung’s fiber optic business, with manufacturing facilities in Gumi, South Korea, as well as in Hainan, China, into the Corning Optical Communications business segment upon closing of the acquisition."
“We are very excited about the growth opportunities in Korea and the emerging economies in Southeast Asia,” said Clark S. Kinlin, executive vice president, Corning Optical Communications. “Once we are joined by Samsung Electronics’ experienced workforce, I look forward to the team building out Corning’s global scale and scope to better meet customer needs for innovative fiber optic solutions.”